Click here to read or make comments on this topic »
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
President Umaru Musa Yar'Adua said yesterday that there was no going back on the planned deregulation of the downstream sector of the petroleum industry.
PRESIDENT Umaru Yar'Adua has said that the deregulation of the downstream sub-sector of the petroleum industry is inevitable, but that government is still holding consultations with stakeholders on the necessity of the action.
"If we hadn't discovered oil, we would have been better off today. Once we had oil, our agriculture sector collapsed. Oil has made us lazy .We have become corrupted" - Former Minister of State for Finance in Nigeria, Mrs. Nedadi Usman (Credit - Jonathan Power: The perils of African oil, 2004)
All over the country, the recent 5% increase in fuel prices are stoking popular anger, the ruling National Democratic Congress (NDC) administration is facing the brunt of even their supporters, while the opposition are using their propaganda machinery to look for scapegoats, and policy makers looking for solutions.
FOLLOWING the allegation of fraud levelled against the Nigerian National Petroleum Corporation (NNPC) over products importation and storage in private depots, the National Assembly yesterday charged President Umaru
THE Anti-Corruption Commission (ACC) has seized the computer of Namibia's Petroleum Commissioner, Immanuel Mulunga, following a fight over the shareholding in an exclusive exploration licence (EPL) for coal methane gas involving Usuta Imbili, daughter of the Founding President, businessman Sacky Nujoma and Mntu Nduvane, former managing director of Total Namibia.
Following the suit brought against the Federal Government on the ongoing plan to deregulate the downstream sector by Barrister Bamidele Aturu, the Federal High Court sitting in Abuja will begin hearing in the case on November 26, 2009 before Justice M. A. Bello.
Following the planned deregulation of the downstream petroleum sector by the Federal Government, the Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ade Abolurin, has called on Nigerians to see the task of ushering sanctity and cultural revolution into the country as everybody's fight.
Oriental Energy Resources and Afren Nigeria have announced its receipt of requisite approvals for the Ebok Phase 1a Field Development Plan ("FDP"), from the Department of Petroleum Resources.
Department of Petroleum Resources (DPR), the apex regulator of Nigeria's oil and gas sector, has queried six major and independent marketers of petroleum products for alleged diversion, hoarding and selling Dual Purpose Kerosene (DPK) above the stipulated ex-depot price.
The 10 per cent equity from oil interest proposed by the Federal Government for oil producing communities will be incorporated into the Petroleum Industry Bill (PIB) and passed into law by the National Assembly before its implementation.
Mister Eugene Odoh, the Speaker, Enugu State House of Assembly, has ordered a strict monitoring of activities at filling stations in the state to confirm the prices at which marketers sell petroleum products.
The Chairman of the Lagos Business School Professor Pat Utomi has called on the Federal government to give tax holiday for companies that would set up refineries and in Nigeria.
The federal government agencies responsible for the records keeping in oil revenue and production are harmonising and integrating their measurement systems, the consultant to the Extractive Industry Transparency Initiative's (NEITI) has said.
As the fuel scarcity continues to bite harder and motorists spend endless hours queuing for petrol at various fuel stations in Abuja, commuters as well as motorists are complaining.
Government policy on deregulation does not intend to create problems and undue hardship for the citizenry but to ameliorate their situation, the Commandant General of the Nigerian Security and Civil Defense Corps Dr. Ade Abolurin has said.
The Pentecostal Fellowship of Nigeria (PFN) has called on the Federal Government to shelve any thought of deregulating the downstream sector of the oil industry and concentrate more on building infrastructure that would aid transportation in the country.
Justice M. A. Bello of a Federal High Court in Abuja has fixed November 26, 2009 to hear the suit instituted by a human rights lawyer, Mr. Bamidele Autru, challenging the decision of the Federal Government to deregulate the downstream sector of the oil industry.
THE Government has finally bought off the 50 per cent Indeni Petroleum Refinery shares formerly owned by Total International at US$5.5 million, bringing Zambia's ownership of the plant to 100 per cent.
Total Kenya Ltd has finalised the acquisition of business and assets of Chevron in Kenya.
Oriental Energy Resources and its partner, Afren Nigeria have announced a drilling update on the Ebok-5 appraisal well, and that requisite approvals have been received for the Ebok phase 1A field development plan.
Indigenes and traditional heads of Gbarantoru community in Yenagoa Local Government Area of Bayelsa State, yesterday explained why they raised alarm over the new gas flaring furnace by the Shell Petroleum Development Company(SPDC),saying it was not part of the Global Memorandum of Understanding (GMoU) signed with the people.
Major oil marketers operating in the country yesterday confirmed that they have secured an approval from the Federal Government to import petroleum products into the country.
Minister of Environment, Mr. John Odey, has asked oil companies operating in the Niger Delta to comply with existing regulatory laws and to ensure that they tailor their operations to conform with the Ministry's policy on environment.
Fifty persons have been arrested by the security Joint Task Force (JTF) in connection with illegal bunkering activities in different creeks of Delta state.
Active Discussions: Petroleum